Bitcoin Struggles to Gain Momentum, Trading Below $22K

The price of Bitcoin has risen less than 1% over the past 24 hours to near $21,700, still below the zone around $23,000 that had marked the largest digital asset’s trading range for weeks until a selloff last week.[0] Bitcoin is now at its lowest level since mid-January after paring gains from a rally that had seen prices jump 40% from the start of the year.[1]

Examining the 1-hour timeframe for Bitcoin, it is clear that the price is forming lower highs and is having difficulty pushing forward.[2] The price has been having difficulty surpassing the resistance of $21,900, which is evident at once.[2]

Analysts appear to have a long-term optimistic outlook on Bitcoin, yet the short-term is still unclear.[3]Although the cost of Bitcoin (BTC) decreased after an increase during the cryptocurrency market in January, the outlook on the cryptocurrency remains positive. The chart patterns are giving a signal to purchase, and some other indicators point to the fact that the original digital asset has left the bear market.[4]

At present, Bitcoin is trading at approximately $21,700 but is having trouble gaining traction in the shorter term.[2] For the last four days, it has been holding steady above the support level of $21,500, trying to rebound from this essential area.[2] In order for BTC to gain momentum, it must break past the primary resistance level of $22,400.[2] Let’s quickly examine the latest Bitcoin price prediction as of February 14th, 2023, to determine where the price is expected to go in the short term.[2]

At the moment, Bitcoin’s support is situated at $21,650 while the resistance is located at $21,800.[5] Conversely, Ethereum sank to its lowest level in a month.[6]The price has fluctuated between $1,400 and $1,500.[5] it has not yet acquired the strength to make a mid-term price recovery.[5]

It is expected that the US Federal Reserve will further decelerate their rate hikes, following the release of the core CPI expected to be at 5.5% for January, after printing 5.7% in December 2022.[7]

BTC reacted with a sudden price drop since the actual numbers for January were somewhat more than anticipated.[8]

0. “War ‘Just getting Started’—$1 Trillion Crypto Crash Sparks Serious Bitcoin And Ethereum Price Warning” Forbes, 14 Feb. 2023,

1. “Bitcoin Barely Budges After CPI. But Cryptos Still Feel Regulatory Pressures.” Barron’s, 14 Feb. 2023,

2. “Bitcoin Price Prediction Daily (14-Feb-2023) A Quick Look at the 1-hour Timeframe” Bitcoinsensus, 14 Feb. 2023,

3. “MATIC, HBAR, LDO and BIT gather strength as Bitcoin price rebounds” Cointelegraph, 12 Feb. 2023,

4. “Bitcoin monthly chart flashes buy signal; Is BTC exiting bear market?” Finbold – Finance in Bold, 9 Feb. 2023,

5. “Crypto Price Today: Bitcoin remains below $22,000; BNB, Solana & Polygon drop up to 6%” Business Today, 14 Feb. 2023,

6. “Bitcoin Gets Butterflies Ahead Of Valentine’s Day Inflation Data” Benzinga, 14 Feb. 2023,

7. “Bitcoin holders brace for impact as BTC correlation with stocks increases ahead of US CPI release” FXStreet, 14 Feb. 2023,

8. “Bitcoin Drops Toward $21.5K on 6.4% US CPI Numbers for January” CryptoPotato, 14 Feb. 2023,